Via The Points Guy, on July 1st, American Express is adding a $100/year benefit for cardholders of all versions of their personal Platinum Cards. This benefit comes in the form of two $50 statement credits for purchases made at Saks Fifth Avenue either in-store or online. You will receive up to a $50 statement credit to offset purchases from January to June and again from July to December.

It’s likely that this credit will work similarly to the current airline credits in that the it should automatically be applied after charging a purchase to your card, there probably won’t be any minimum purchase requirement (i.e. if you only spend $5, you’ll get a credit for that and still have $45 remaining), and we can also expect it to cover any sales tax.

This benefit is being added to all variations of the Platinum Card (Ameriprise Financial, Charles Schwab, Goldman Sachs, Mercedes-Benz, and Morgan Stanley, in addition to the regular Platinum Card).

You’ll need to enroll at the link above to receive this benefit. It’s not clear at this point whether you’ll need to register once or twice a year, or, more importantly, if the credit will work on gift card purchases. July 1 is only a few days away, however, so we should know soon.